Dragonfly Energy Announces First Quarter 2025 Preliminary Net Sales and Adjusted EBITDA

Rhea-AI Summary

Dragonfly Energy (Nasdaq: DFLI) announced preliminary Q1 2025 results exceeding previous guidance, with Net Sales of $13.4 million and Adjusted EBITDA of $(3.6) million. This marks the company's second consecutive quarter of year-over-year growth.

The energy storage and battery technology leader will host a conference call to discuss these results on May 15th, 2025, at 4:30 PM Eastern Time. The preliminary results are subject to finalization in the upcoming Quarterly Report on Form 10-Q for the period ended March 31, 2025.

Positive

• Net Sales and Adjusted EBITDA exceeded guidance
• Second consecutive quarter of year-over-year growth

Negative

• Negative Adjusted EBITDA of $(3.6) million indicates continued operational losses

Preliminary First Quarter Net Sales and Adjusted EBITDA Above Guidance

RENO, Nev., April 23, 2025 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and battery technology, today announced preliminary first quarter 2025 Net Sales and Adjusted EBITDA.

The Company anticipates first quarter 2025 Net Sales of $13.4 million and Adjusted EBITDA of $(3.6) million, above the guidance provided in the fourth quarter of 2024.

“First quarter results represent our second consecutive quarter of year over year growth as we continue to execute on a number of important growth initiatives while focusing on driving profitability.” said Dr. Denis Phares, Chief Executive Officer.

Adjusted EBITDA is a non-GAAP measure and should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with GAAP. Please refer to the reconciliation of Adjusted EBITDA to its nearest GAAP measure in this release.

The first quarter 2025 Net Sales and Adjusted EBITDA are preliminary and are subject to finalization in connection with the preparation of the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2025. 

First Quarter 2025 Webcast Information

The Dragonfly Energy management team will host a conference call to discuss its first quarter 2025 financial and operational results on Thursday, May 15^th at 4:30 PM Eastern Time. The call can be accessed live via webcast by clicking here, or through the Events and Presentations page within the Investor Relations section of Dragonfly Energy’s website at https://investors.dragonflyenergy.com/events-and-presentations/default.aspx. The call can also be accessed live via telephone by dialing (646) 564-2877, toll-free in North America (800) 549-8228, or for international callers +1 (289) 819-1520, and referencing conference ID: 76172. Please log in to the webcast or dial in to the call at least 10 minutes prior to the start of the event.

An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Dragonfly Energy’s website, along with the earnings press release.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company's overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit investors.dragonflyenergy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the Company’s guidance for first quarter 2025 preliminary Net Sales and Adjusted EBITDA, results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to: the closing of the offerings, the use of proceeds from the offerings, the ability to successfully achieve the thresholds for the additional funding from the offerings, the impact of the offering and the conversion and sale of the shares of common stock underlying the preferred stock on the Company’s stock price, improved recovery in the Company’s core markets, including the RV market; the Company’s ability to successfully increase market penetration into target markets; the Company’s ability to penetrate the heavy-duty trucking and other new markets; the growth of the addressable markets that the Company intends to target; the Company’s ability to retain members of its senior management team and other key personnel; the Company’s ability to maintain relationships with key suppliers including suppliers in China; the Company’s ability to maintain relationships with key customers; the Company’s ability to access capital as and when needed under its $150 million ChEF Equity Facility; the Company’s ability to protect its patents and other intellectual property; the Company’s ability to successfully utilize its patented dry electrode battery manufacturing process and optimize solid state cells as well as to produce commercially viable solid state cells in a timely manner or at all, and to scale to mass production; the Company’s ability to timely achieve the anticipated benefits of its licensing arrangement with Stryten Energy LLC; the Company’s ability to achieve the anticipated benefits of its customer arrangements with THOR Industries and THOR Industries’ affiliated brands (including Keystone RV Company); the Company’s ability to maintain the listing of its common stock and public warrants on the Nasdaq Capital Market; the Russian/Ukrainian conflict; the Company’s ability to generate revenue from future product sales and its ability to achieve and maintain profitability; and the Company’s ability to compete with other manufacturers in the industry and its ability to engage target customers and successfully convert these customers into meaningful orders in the future. These and other risks and uncertainties are described more fully in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC and in the Company’s subsequent filings with the SEC available at www.sec.gov.

If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Financial Tables

Dragonfly Energy Holdings Corp.
Reconciliation of GAAP to Non-GAAP Measures (Unaudited)
(U.S. Dollars in Thousands)
				Three Months Ended
				March 31,				March 31,
				2025				2024
EBITDA Calculation
Net (Loss) Income Before Taxes				$	(6,797	)		$	(10,367	)
	Interest Expense				4,701				4,760
	Taxes				-				-
	Depreciation and Amortization				859				332
EBITDA				$	(1,237	)		$	(5,275	)
Adjustments to EBITDA
	Stock Based Compensation				220				266
	Preferred Stock Financing expenses				631				-
	Litigation Fees and Loss on Settlement				543				-
	Reverse Stock Split				15				-
	Change in fair market value of warrant liability				(3,818	)			(236	)
Adjusted EBITDA				$	(3,646	)		$	(5,245	)

Investor Relations:
Eric Prouty
Szymon Serowiecki
AdvisIRy Partners
DragonflyIR@advisiry.com

FAQ

What are Dragonfly Energy's (DFLI) Q1 2025 preliminary financial results?

Dragonfly Energy reported preliminary Q1 2025 Net Sales of $13.4 million and Adjusted EBITDA of $(3.6) million, both exceeding previously provided guidance.

When is DFLI's Q1 2025 earnings conference call scheduled?

Dragonfly Energy's Q1 2025 earnings conference call is scheduled for Thursday, May 15th, 2025, at 4:30 PM Eastern Time.

How many consecutive quarters of year-over-year growth has DFLI achieved?

Dragonfly Energy has achieved two consecutive quarters of year-over-year growth as of Q1 2025.

What is the current status of DFLI's Q1 2025 financial results?

The Q1 2025 results are preliminary and subject to finalization in connection with the preparation of the Company's Quarterly Report on Form 10-Q.